Access to business finance
01 November 2010
Financing a private sector recovery
If businesses are to play their part in promoting economic recovery, it is important that they are able to make optimal financial decisions in a stable macroeconomic environment. The Government published a green paper on business finance in July 2010, exploring the impact the financial crisis has had on the availability of finance for businesses, and the extent to which current challenges are transitional or structural. It also considered whether there are risks to the future provision of finance that should be addressed now, so that an appropriate range of business finance is available for viable businesses as the economy recovers. The paper sought views from businesses, investors and lenders to help inform the Government’s assessment of, and response to, this important challenge. The Government received over 180 submissions from interested parties and has now published its response. It sets out a comprehensive package of measures to support finance for businesses, particularly small businesses who represent almost 60 per cent of private sector employment and 49 per cent of private sector turnover.
On 1 November, Government published its response to the Green Paper consultation 'Financing a Private Sector Recovery' setting out a comprehensive package of measures to support finance for businesses, particularly small businesses who represent almost 60 per cent of private sector employment and 49 per cent of private sector turnover.
Government policy aims to ensure stable financial conditions for business; to move to a more competitive and transparent banking system; and to ensure businesses have access to a more diverse range of sources of finance that suit their needs.
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